Asked by The nichols family M,S,M,M on Sep 28, 2024
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A company implementing a diversification strategy through forward integration would most likely acquire a supplier.
Diversification Strategy
A business approach that involves entering into new markets or creating new products to spread risk and depend less on a single market or product line.
Forward Integration
A business strategy where a company controls the distribution or supply chain for its products by moving downstream in the production process, often to get closer to the end consumer.
Acquire Supplier
Acquiring a supplier involves taking over or merging with a company that provides essential goods or services to your business, aiming to streamline operations or secure supply chains.
- Understand the unique aspects of each growth strategy, including market penetration, market development, product development, and diversification.
- Analyze the role of both forward and backward integration within diversification strategies.
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Learning Objectives
- Understand the unique aspects of each growth strategy, including market penetration, market development, product development, and diversification.
- Analyze the role of both forward and backward integration within diversification strategies.
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